DT Midstream (NYSE:DTM) Announces Earnings Results

DT Midstream (NYSE:DTM) posted its quarterly earnings results on Tuesday. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05), Briefing.com reports. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the business posted $0.94 earnings per share.

DT Midstream Trading Up 2.3 %

Shares of DTM stock traded up $2.06 on Wednesday, hitting $91.36. 241,567 shares of the company’s stock traded hands, compared to its average volume of 637,336. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 21.89 and a beta of 0.74. DT Midstream has a one year low of $51.17 and a one year high of $91.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day simple moving average is $80.52 and its 200 day simple moving average is $72.95.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DTM. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the company from $78.00 to $89.00 in a report on Wednesday. Citigroup lifted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays lifted their price objective on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Morgan Stanley lifted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average target price of $78.75.

DT Midstream Company Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.